Edible oils rise on good demand

Groundnut oil prices rose in a fairly active oil and oilseeds market here today on renewed demand from stockists and retailers. Refined palmolein also moved up on better consumer offtake.

Castorseeds bold and castor oil commercial prices rallied on fresh demand from shippers and soap industries. Castorseeds futures also surged on sustained export demand coupled with firm trend in spot market.

In edible oil section, groundnut oil prices gained Rs 5 per 10 kg to Rs 970 from overnight closing level of Rs 965 and refined palmolein edged up by Rs 3 per 10 kg to Rs 559 as against Rs 556 yesterday.

Turning to non-edible section, castorseeds bold spurted by Rs 60 per 100 kg to Rs 5,240 from Tuesday's closing level of Rs 5,180 and castor oil commercial firmed up by Rs 12 per 10 kg to Rs 1,078 as compared to Rs 1,066 previously.

Linseeds oil ended unaltered at Rs 710 per 10 kg.

In the futures trade, castorseeds for September delivery resumed higher at Rs 5,290 and advanced further to finish at Rs 5,305 from Rs 5,225 previously, showing a smart gain of Rs 80 per tonne.